House approves tax credits for UTC

HARTFORD, Conn. – The House overwhelmingly approved legislation Thursday to allow United Technologies Corp. to use $400 million in unused tax credits to reduce their tax liability and expand their facilities.

The bill passed 134-4. Four Republicans, Reps. Richard Smith, Robert Sampson, David Labriola, and Terrie Wood, voted against the bill.

“We should be leveling the playing field,” Wood said. “We shouldn’t just be allowing one company to benefit.”

Without the legislation, the company would be unable to use these tax credits they’ve accumulated over the years.

Labriola said he didn’t like the idea that the tax credit could still be used even if the company decided to shed jobs.

See the complete story at CT News Junkie.



One response to “House approves tax credits for UTC”

  1. the donut hole

    are they going to restore the layoffs at sikorsky?

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